If you've been searching for a high-end home in Fresno and Clovis area but haven't found the right one, you might have put your search on hold. However, recent data suggests now might be the ideal time to jump back into the market. Here’s why.
There Are More Luxury Homes To Choose From
Luxury homes are typically those valued in the top 5% of any given market, and this can vary by location. According to a recent report from the Institute for Luxury Home Marketing, the selection of luxury homes is increasing (see graph below):
As the graph shows, there are significantly more single-family luxury homes available now compared to a year ago. In fact, the inventory has increased even more over the past month. This surge in availability means you’ll have a wider variety of top-of-the-line homes to choose from, each featuring unique elements and styles.
Whether you’re searching for the latest design trends, such as modern kitchens with chef-grade appliances, homes with breathtaking views, or integrated smart home technology, the expanded luxury inventory means you’ll have a better chance of finding a home that matches your tastes and lifestyle.
Rising Luxury Home Prices Can Help You Build Wealth
Another crucial factor to consider is that luxury home prices are on the rise. According to HousingWire, luxury home prices have increased by 8.7% over the past year. As they explain:
“People with the means to buy high-end homes are jumping in now because they feel confident prices will continue to rise. They’re ready to buy with more optimism and less apprehension.”
This indicates that buying now, before prices climb even higher, could be your sweet spot. With more inventory available, you have a better chance of finding the perfect home. Moreover, as home prices continue to rise, owning a luxury home can help you build more generational wealth over time. Conversely, waiting to buy might mean paying more for the same home later as luxury prices continue to escalate.
Bottom Line
With growing inventory and rising prices, you have a greater selection of luxury homes to choose from and a timely opportunity to invest in the Fresno & Clovis market. Want to explore the high-end homes available in our area? Connect with us today and find your dream home.
